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Buying & bidding

Buying & bidding

Information about e-shop and auctions

Gembid.co.uk is engaged in electronic trade and offers their products and services to their clients in cyberspace. The client can purchase the desired product via two sales channels: online shop and Pricefall auction. You have to register at Gembid.co.uk by filling out the registration form if you want to order and buy the products.

Online shopping via e-shop channel

If you have found the product that interests you in our online shop, you can purchase it by clicking “Buy now” button. The number of clicks on the “Buy now” button corresponds to the amount of products in your shopping basket.

Buying and bidding via Pricefall auction

Pricefall auction is divided into two sections: “Waiting for pricefall” and “Pricefall every n minute”. You can buy at both sections, while bidding, i.e. placing a bid, is only available at “Waiting for pricefall” section.

Buying at an auction section “Pricefall every n minute”

At an auction section “Pricefall every n minute” a quantitative limit of products are being sold during the determined time. During the “Pricefall every n minute” game the price of the product is falling in predefined time interval which is defined by Gembid.co.uk at its sole discretion. Currently pricefall game time is set to 5 minutes. The pricefall game is over when the time clock expires. The game is also considered as over for a particular item bought during the pricefall game using the “Buy now” button. When you find a desirable item you can buy it by clicking on the “Buy now” button. The order is fully completed after the following information is filled and appropriate options are selected during the chekout process: 1. Item in basket, 2. Delivery information, 3. Shipping Carrier and Payment method, 4. Order Confirmation. In order to be sure that you will get the desired product, simply click on “Buy now” button. You can withdraw your price offer by removing the item from your shopping basket. To do that, simply go to your basket and press X symbol.

Once the checkout process is completed, an e-mail is sent to your e-mail address with the notification and request for payment. The total price for the item including the shipping cost must be paid within 24 hours of the receipt of the e-mail message.

The game time

If the clock reaches zero before you place your bid, the game is over and you will not have a chance to purchase the product in this game. If the game is over before you place the bid, please understand that there is no guarantee that the product will be offered in the next/other game.

Gembid.co.uk reserves the right to close the game at its sole discretion.

Gembid.co.uk right of offer

If you will not be among the winners after bidding in“Waiting for pricefall” section, Gembid.co.uk in its sole discretion reserves the right to offer you the product for the lowest price offered by you or by other players.

Buying and bidding at an auction section “Waiting for Pricefall”

In this section you can wait for the Pricefall game to begin and bid for the desirable items. The starting time of the pricefall game is indicated next to each item. After you place a bid, wait for the Pricefall to begin and watch the price falling. You have two options: either buy the tem during the pricefall using the “Buy now” button or wait for the pricefall time clock to expire and price fall to the lowest limit. You will then get an item for the price you have offered during bidding. However, keep in mind that at any time some other player can join the “Pricefall every n minute” game and buy the item before you. You will then miss your chance of buying this item.

Situation examples

Eg. no. 1: There is an auction of the ring with diamond in “Waiting for Pricefall” section. The price of the item is 250 GBP. The starting price of the product is 90 GBP. Tom places a forward bid of 100 GBP. The game continues and after the predetermine time ends, the game shifts to section “Pricefall every n minute”. The price of the item starts falling. Currently pricefall game time is set to 5 minutes. The time clock reaches zero and no one else joins the game. Therefore, Tom wins the item for 100 GBP.

Eg. no. 2: There is an auction of the same ring with diamond in “Waiting for Pricefall” section. The price of the item is 250 GBP. The starting price of the product is 90 GBP. Tom places a forward bid of 100 GBP. When the game shifts from phase “Waiting for Pricefall” to phase “Pricefall every n minute”, Ann joins the game and when the price reaches 120 GBP, she clicks the “Buy now” button. In this case, Ann is the winner of the game and she can buy the ring for 120 GBP, while Tom loses the game.

This game can be a battle of nerves since there is a competition among the participants. The longer you wait the lower the price falls. However, anyone can buy the item before the end of the game and there is no guarantee that the item will be put for auction once again.

The minimum initial bid

Next to each product in the “Waiting for Pricefall” section the minimum starting sum of the bid is shown. The sum is indicated by Gembid.co.uk. You can place your bid, but your bid amount must not fall below the specified price limit.

Payment period

The bid you make is a conclusion of a contract between you and Gembid.co.uk. If you place the highest bid and win the auction, you get an e-mail of confirmation about winning and an incitement to make a payment. This means that you must comply with obligations under the contract and buy the product from Gembid.co.uk. The payment for the product bought during the auction should be made within 24 hours from the receipt of the confirmatory e-mail message.

Shill bidding is strictly prohibited. You are not allowed to place bids in order to increase the price of the product artificially or otherwise manipulate the bidding processes. Gembid.co.uk reserves the right to block your account for such infringements of the bidding process.

Forward bids

You can make unlimited amount of bids for each product listed in “Waiting for Pricefall” section. Each time after the last bid made by you or by other participant the price for the product is increased accordingly by the amount of no less than 1 GBP.

* If upon the expiry of the game time for the particular product in “Waiting for Pricefall” section you did not managed to confirm your order, you can continue with your purchase in the “Pricefall every n min” section.

* If you made a forward bid in “Waiting for pricefall” section, you can participate in “Pricefall every n minute” section and try to win the item by clicking on “Buy now” button.

* After you place your bid in “Waiting for Pricefall” section, you can find and edit your bid in the section “My bids”. You will be informed about the higher bids made by other participants via an e-mail message. If your bid will be the highest, you will be the winner of the game. The item will then be moved to your shopping basket.